site.btaEconomy Minister Sedlarski Participates in Informal Meeting of EU Trade Ministers

Economy Minister Sedlarski Participates in Informal Meeting of EU Trade Ministers

Sofia, March 4 (BTA) - Economy Minister Teodor Sedlarski participated in an informal meeting of EU trade ministers, held on March 2 and 3 in Valleta, Malta, the Economy Ministry reported on Saturday.

Ensuring a predictable business environment and legal security for economic operators in the nearest future is of crucial importance, said Sedlarski during the meeting, commenting the disputed EU legislation at the World Trade Organization (WTO). Bulgaria's position, which Sedlarski expressed, is that this country supports the European Commission's proposal to apply a new and different anti-dumping methodology in cases of significant distortions of third countries' markets.

Sedlarski also noted the importance of ensuring legal compatibility with the rules at the WTO, in order to reduce the risk of lawsuits being filed against the EU. Providing a reasonable transition period for gradually moving from the current to the new methodology is also important, the Bulgarian Minister said.

Commenting the preparations for the 11th WTO Ministerial Conference, which is to be held this December, Sedlarski said that the efforts of all member countries must be directed towards perfecting the existing rules and creating new ones, so as to add value and improve the benefits of the multilateral system.

The Bulgarian Economy Minister has also noted that a detailed discussion is needed with all interested parties in the EU Member States due to the comprehensive nature of the proposed multilateral investment court. One of the most important aspects, which should be taken into account, is facilitating SMEs' access to this court.